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CANADA STOCKS-Toronto stocks inch up as oil climbs; investors await Fed minutes
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CANADA STOCKS-Toronto stocks inch up as oil climbs; investors await Fed minutes
Jul 7, 2026 6:28 PM

July 7 (Reuters) - Canada's main stock index edged higher on

Tuesday, buoyed by rising oil prices, while investors awaited

the minutes of the U.S. Federal Reserve's June meeting for

signals on monetary policy.

The Toronto Stock Exchange's S&P/TSX Composite index

rose 0.25% to 35299.67 points by 10:00 am ET.

* Oil prices rose as reports of attacks on vessels near the

Strait of Hormuz revived fears of disruptions to shipping

through the critical energy transit route.

* Brent crude futures gained 1.88% to $73.33 a

barrel; U.S. West Texas Intermediate crude rose 1.85% to

$69.83 a barrel.

* Canada's energy index rose 1.7%. Imperial Oil ( IMO )

, Strathcona Resources ( STHRF ) and Suncor Energy ( SU )

were among the biggest gainers, adding between 2.3% and

2.4%.

* "We are in for a more choppy phase, but earnings continue

to provide strong support. The energy sector can provide some

hedge against different scenarios," said Angelo Kourkafas,

senior global investment strategist at Edward Jones Investments.

* "The market reaction to the Samsung earnings highlights

how high the bar is in terms of earnings expectations."

* Gold slipped for a second consecutive session as a

stronger U.S. dollar weighed, while investors awaited minutes

from the Fed's June meeting, when it held interest rates

unchanged. Spot gold and silver prices dipped

0.14% and 1.39%, respectively.

* A softer-than-expected U.S. jobs report and signs of

easing tensions in the Middle East have tempered expectations of

several U.S. interest rate increases this year.

* Traders are pricing in one 25-basis-point rate hike from

the Fed by the end of this year, according to LSEG data.

* Meanwhile, the Bank of Canada is seen keeping interest

rates on hold this year, with the next policy decision due on

July 15.

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